Polygon (MATIC) Price Dropped 9% in One Day – so Where’s It Headed Next?

The Polygon (MATIC) price could initiate a relief rally before another final drop completes the entire correction. The MATIC token is the native token of the Polygon network, a scaling solution for the Ethereum blockchain. The MATIC price has increased since bouncing at the $0.77 horizontal support area in the beginning of the year. This led to a high of $1.57 on Feb. 17. While it initially seemed that the MATIC price reclaimed the $1.35 resistance area, the movement turned out to be a deviation (red circle). Shortly afterward, the price fell below the area. The weekly RSI is bullish